You can set the Effect as a whole in the setter.value
<Setter Property="Margin" TargetName="ButtonBorder" Value="13,13,7,7" />
<Setter Property="Effect" TargetName="ButtonBorder" >
<Setter.Value>
<DropShadowEffect ShadowDepth="2" />
</Setter.Value>
</Setter>
</Trigger>